Acushnet Holdings Corp. (NYSE:GOLF) Short Interest Update

Acushnet Holdings Corp. (NYSE:GOLF) saw a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 5,470,000 shares, an increase of 40.6% from the January 31st total of 3,890,000 shares. Currently, 19.9% of the company’s shares are short sold. Based on an average trading volume of 418,100 shares, the days-to-cover ratio is presently 13.1 days.

Hedge Funds Weigh In On Acushnet

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Blue Trust Inc. lifted its position in Acushnet by 100.6% during the 4th quarter. Blue Trust Inc. now owns 351 shares of the company’s stock worth $25,000 after buying an additional 176 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Acushnet during the fourth quarter worth $31,000. Prospera Private Wealth LLC acquired a new position in shares of Acushnet during the third quarter valued at $41,000. Lazard Asset Management LLC bought a new position in Acushnet in the fourth quarter valued at about $51,000. Finally, Point72 Asia Singapore Pte. Ltd. increased its position in Acushnet by 39.6% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 818 shares of the company’s stock worth $58,000 after purchasing an additional 232 shares during the period. Institutional investors and hedge funds own 53.12% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on GOLF. KeyCorp dropped their price target on shares of Acushnet from $80.00 to $77.00 and set an “overweight” rating for the company in a research report on Friday. JPMorgan Chase & Co. cut Acushnet from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $69.00 to $64.00 in a report on Thursday, January 23rd. Truist Financial raised their price target on shares of Acushnet from $65.00 to $68.00 and gave the company a “hold” rating in a report on Friday, November 8th. Finally, StockNews.com upgraded Acushnet from a “hold” rating to a “buy” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Acushnet presently has an average rating of “Hold” and an average target price of $72.00.

Acushnet Stock Performance

Shares of NYSE GOLF traded down $0.31 during trading hours on Monday, reaching $63.99. The stock had a trading volume of 590,370 shares, compared to its average volume of 552,962. The business’s fifty day moving average is $68.95 and its two-hundred day moving average is $67.61. The company has a market cap of $3.89 billion, a price-to-earnings ratio of 21.77 and a beta of 0.86. Acushnet has a twelve month low of $58.54 and a twelve month high of $76.65. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.10 and a quick ratio of 1.14.

Acushnet (NYSE:GOLF) last issued its earnings results on Thursday, February 27th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.31. The company had revenue of $445.17 billion for the quarter, compared to the consensus estimate of $454.83 million. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. As a group, research analysts expect that Acushnet will post 3.06 EPS for the current year.

Acushnet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be issued a $0.235 dividend. This is an increase from Acushnet’s previous quarterly dividend of $0.22. This represents a $0.94 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Friday, March 7th. Acushnet’s payout ratio is presently 25.83%.

About Acushnet

Acushnet Holdings Corp. designs, develops, manufactures, and distributes golf products in the United States, Europe, the Middle East, Africa, Japan, Korea, and internationally. The company operates through four segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear, and FootJoy Golf Wear.